Reform UK Leader Farage Accepts Crypto Donations for Party
British populist leader Nigel Farage has announced that Reform UK is now accepting crypto donations, marking a significant step in political funding. Although the party has received a few crypto donations, specific details about the amounts or donors were not disclosed.
- No direct donations from crypto companies have been reported, although there may have been sponsorships during a recent London crypto conference.
- Reform UK holds five out of 650 seats in Parliament but is polling ahead of the Labour government.
- Farage aims to make the UK a more crypto-friendly jurisdiction.
- He claims to have supported crypto since 2020 and personally holds digital assets.
Reform UK's Crypto Agenda
- Reform UK is the first British political party to announce acceptance of crypto donations.
- Farage introduced a Crypto Assets and Digital Finance Bill to reduce capital gains tax on cryptocurrencies from 24% to 10%.
- The bill also proposes banning banks from closing accounts linked to legal crypto activity and establishing a Bitcoin reserve at the Bank of England.
- Farage opposes the Bank of England’s proposed stablecoin limits and criticizes central bank digital currencies (CBDCs).
- The UK crypto industry supports these pro-growth policies as they could help London regain its status as a global fintech hub.